The Broadway Company, a Boston-based real estate investment firm focused on multi-family and manufactured housing, has acquired Heathermoor Estates, a 116-lot manufactured housing community in Moody, Alabama, in partnership with Parkstone Communities, a Richmond, Virginia-based owner-operator. The purchase, announced on October 13, 2026, marks another step in The Broadway Company's targeted expansion of the manufactured housing asset class in Alabama and other core markets nationally.
Heathermoor Estates is located approximately 25 miles east of downtown Birmingham, along the Interstate 20 corridor in St. Clair County. The community benefits from proximity to one of the Southeast's largest employment centers and sits within a region experiencing sustained population and economic growth. For residents, the acquisition by an experienced owner-operator may translate into improved property management and community amenities, as Parkstone Communities is known for providing institutional-level property and asset management across its portfolio of more than 30 manufactured housing communities nationwide.
The deal underscores the growing attractiveness of manufactured housing as an investment class. Manufactured housing communities offer affordable housing options at a time when traditional homeownership remains out of reach for many Americans, and they provide stable, long-term cash flows for investors. The Broadway Company's move reflects a broader trend of institutional capital flowing into the sector, which has historically been fragmented among smaller, local owners. By partnering with Parkstone, The Broadway Company gains operational expertise and on-the-ground management capabilities that can enhance the value of the asset.
For The Broadway Company, the acquisition aligns with its strategy of pursuing targeted expansion in Alabama and other core markets. Founded in 2011, the firm has completed over 90 investments and manages its communities through Moon Street, its in-house property management arm. The company's leadership, including co-founders Tana E. Weissman and Jason S. Weissman, brings deep experience in corporate governance, asset management, acquisitions, accounting, and leasing. Jason Weissman also founded Boston Realty Advisors, the largest independently owned commercial real estate brokerage in New England, further bolstering the firm's industry connections.
The partnership with Parkstone Communities, founded by Sam Turner in 2015, adds a seasoned operator with a track record of scaling manufactured housing portfolios. Parkstone's home-office team and field operators will likely oversee day-to-day operations at Heathermoor Estates, ensuring professional management and resident services. The collaboration between the two firms could serve as a model for future acquisitions, combining The Broadway Company's investment acumen with Parkstone's operational focus.
The acquisition also highlights the resilience of the manufactured housing sector amid broader economic uncertainty. As housing affordability remains a pressing issue, manufactured housing communities provide a cost-effective alternative for families and individuals. Institutional investment can bring capital improvements, better maintenance, and a more professional living environment, which benefits residents and surrounding communities alike. For more details on the transaction, click here.
For additional information about The Broadway Company, visit www.tbcre.com. Information about Parkstone Communities can be found at https://parkstonecommunities.com/.
